May 29, 2013
Governor Perry Appoints Julia Rathgeber Commissioner of Insurance
Governor Rick Perry has appointed Julia Rathgeber to succeed Eleanor Kitzman as Texas Insurance Commissioner, effective immediately for a term to expire Feb. 1, 2015, according to an announcement yesterday from his office. Read More »
TLTA Completes Successful Legislative Session
TLTA is pleased to report a successful legislative session that included defeating or amending several pieces of legislation that would have threatened the title industry, while managing to help pass bills that will improve the day-to-day operations of title work and save both the industry and consumers' money. Here is a quick summary of TLTA's proactive legislative agenda items, and a more comprehensive report with all bills of interest will be published in the coming weeks:
Waiver of Penalties & Interests on Omitted Property Legislation Passed
The Senate passed HB 1913 by Sen. Tommy Williams and Rep. Dwayne Bohac, which provides significant relief for the title industry by allowing for the waiver of penalties and interest for property taxes that are levied against omitted improvements and erroneous exemptions. This legislation is now awaiting the Governor's signature.
Correction Instrument Legislation Signed by Governor
Last week, Gov. Perry signed SB 887 by Rep. Rob Orr and Sen. Carlos Uresti. This legislation clarifies that the date of a correction instrument relates back to the original filing date and also provides the clear ability to treat an inadvertently omitted attachment as a nonmaterial correction. The new statute is effective on Sept. 1, 2013.
Streamlining the Process for Deceased Borrowers Not Brought Up for Vote
Although this bill was on track to pass and was on the calendar last week to be considered by the Senate, questions raised by a Senator late in the process resulted in the vote being blocked. Therefore, unfortunately, HB 2795, sponsored by Rep. Richard Raymond, Sen. John Carona and Sen. Royce West, did not pass this Session. We were very disappointed, as this legislation would have improved the process for more secure titles when an intestate mortgagor dies, by identifying heirs and providing improved notice, without requiring the opening of a full probate administration. TLTA is especially grateful to the Real Estate Probate & Trust Law section of the State Bar for their hard work as we forged this complex and intricate piece of legislation. We also appreciate the registered support of esteemed probate judge, Judge Guy Herman.
The TLTA leadership and lobby team would like to thank the TLTA Legislative Committee for all their hard work and express great gratitude and appreciation to the members of the Texas Legislature who worked so diligently to advance the TLTA legislative agenda and improve real estate law in the state of Texas. Stay tuned for a more comprehensive Legislative Update from TLTA in the coming weeks, where we will outline all bills of interest to the industry.
Don't Miss These TLTAPAC Events at Conference!
There are several TLTAPAC events you won't want to miss at TLTA's Annual Conference & Business Meeting in Austin, June 19-21.
Evan Smith, the CEO and editor-in-chief of The Texas Tribune, will discuss state politics and the 2013 Legislative Session at the PAC Annual Meeting and Breakfast on Thursday, June 20. During Friday's PAC breakfast, San Francisco 49ers quarterback and former UT quarterback Colt McCoy will talk about what it takes to win on and off the field.
You also won't want to miss the Bert Massey Classic Golf Tournament on Wednesday, June 19, at the Barton Creek Resort & Spa's signature golf course.
Register for the Annual Conference and these TLTAPAC events here.
Deadly Homes Present Quandary for Buyers, Sellers
Detroit Free Press | May 28, 2013
Some potential buyers are intrigued by owning a home with notoriety, while others are freaked out by it. Kayla Bentley was thrilled to move into her in-laws' house as a 19-year-old newlywed back in 2010. That is until she found out that the unassuming house on a quiet street in Allen Park, a suburban Detroit community, was where Justin Olszowy, a mentally unstable 26-year-old man, fatally shot his parents two years earlier. Read More »